- Anti Money Laundering
- automatic extension
- bill of lading
- Counter Terrorist Financing
- financial crime
- Financial Guarantee
- Independent Guarantee
- LC Law
- Red Flags
- Standby LC
- Trade Based Financial Crime Compliance
- tranport documents
- wrongful dishonor
Each year DCW releases quarterly LC statistics, showing letter of credit activity for nearly 700 US banks and Non-US Banks with domestic branches.
Using these statistics, we've put together a series of graphics depicting the Top 10 banks in outstanding LCs for Q2 2019. Where does your bank rank?
Non-US Banks with US Branches
LC Statistics - US Banks in 2Q 2019
Notable Growth in net LCs
JP Morgan Chase showed the biggest jump from 2Q18 to 2Q19. JPM's 56.2 billion total LCs in 2Q18 increased to 147.469 billion at the close of 2Q19, a gain of 91 billion.
The second highest increase in LCs from 2Q18 to 2Q19 was a comparatively small jump of about 1 billion by PNC Bank. PNC ended 2Q19 at 9.5 billion.
Notable Declines in net LCs
Wells Fargo showed the largest decline in net letters of credit among US banks, dropping 9 billion from 2Q18 to 2Q19, ending at 73.7 billion.
MUFG Union Bank ended 2Q19 about half a billion lower than the previous year, ending at 4.5 billion.
LC Stats - Non-US Banks with US Branches
Notable Growth in Net LCs
Leading in non-US banks with domestic branches, Standard Chartered Bank grew the most at 10.3 billion from 2Q18 to 2Q19, ending around 16 billion.
Royal Bank of Canada ended 2Q19 with 9.8 billion more in outstanding LCs, totaling at 12.2 billion.
Notable Declines in LCs
Bank of Nova Scotia saw the greatest drop in letter of credit activity for the year in this subcategory, ending at 6.3 billion, a loss of nearly 3 billion.
MUFG Bank also went down from 16.5 billion in 2Q18 to 14.3 billion at the end of 2Q19.
Where does your bank rank in the LC Statistics?
For the full range of LC statistics, subscribe to Documentary Credit World for its quarterly letter of credit statistics report.
For other recent DCW releases, you can preview the current issue, see our recent trade finance news roundup from 2018, or the popular Vincent O'Brien / Ashish Madan interview on bills of lading on commodity financing.
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